International tax

Tax / Amazon wants tax breaks for second US HQ

Amazon’s announcement that it is looking for a US city in which to set up HQ2 and its requirement that the chosen location is ‘business friendly’ has sparked controversy over whether the contenders should offer tax breaks and other financial incentives

Tax / IRS to require health coverage details with annual tax returns

The US Internal Revenue Service (IRS) has announced it will not accept electronically filed tax returns for taxpayers who do not include information about the health coverage requirements of the Affordable Care Act (ACA), starting from the upcoming 2018 filing season

Tax / OECD reports action taken to amend preferential tax regimes

Governments have dismantled, or are in the process of amending, nearly 100 preferential tax regimes as a result of the introduction of the base erosion and profit shifting (BEPS) standards to improve the international tax framework, according to a progress report from the OECD

Tax / Murphy: unpicking the Irish Budget

The Irish finance minister, Paschal Donohoe, announced his first budget this week against a backdrop of economic growth and low unemployment levels, but Brexit, US tax and trade reforms and various geopolitical threats pose potent challenges says Fiona Murphy, tax partner at Irish accountancy firm RBK

Tax / Transfer pricing: intellectual property and intercompany charges

Companies risk millions in fines by not complying with transfer pricing rules on intercompany charges and licensing fees for intellectual property paid to local trading subsidiaries. Ken Almand, partner and UK head of transfer pricing at RSM and Paul Sutton, founder, LCN Legal, explain the essentials for TP tax compliance

Tax / Irish finance minister Donohoe continues ‘Brexitproofing’ in first Budget

Irish finance minister Paschal Donohoe said capital expenditure and a broader tax base would help ‘Brexitproof’ his country in his first Budget since taking over from predecessor Michael Noonan

Tax / European Commission gets go-ahead to improve tax dispute rules

The European Commission has been granted permission from EU member states to introduce rules to improve tax dispute resolution as well as cover issues relating to double taxation which can be a major obstacle for businesses

Tax / Hyde: diverted profits tax and advance pricing arrangements

The diverted profits tax may have raised £281m in tax revenue in the first full year of operation, but it is proving a challenge for companies. Ian Hyde, tax partner at Pinsent Masons considers the interaction of DPT with advance pricing arrangements (APAs)

Tax / Cereal producer Kellogg’s paid no corporation tax in 2016

Cereal giant Kellogg’s paid no corporation tax in the UK in the year to 31 December 2016 despite making approximately a combined £40m in profit across two of the brand’s UK companies 

Tax / European Commission seeks major VAT reform to a single EU-wide system

The European Commission is planning the biggest reform of EU VAT rules in a quarter of a century, introducing a pan-European system which it says will be simpler to use and enable authorities to claw back some of the €150bn (£133bn) of VAT lost each year and tackle cross-border VAT fraud

Tax / Ireland referred to ECJ after failure to collect €13bn Apple tax

Ireland has been referred to the European Court of Justice (ECJ) after failing to collect €13bn (£11.5bn) from US technology giant Apple

Tax / Amazon ordered to pay €250m in back taxes after EU ruling

Global online retailer Amazon has been ordered to pay €250m (£221m) after the European Commission ruled a decision taken by the courts in Luxembourg amounted to illegal state aid

Tax / Tax strategy reporting: compliance issues for big business

As requirements for businesses with a turnover above £200m and/or a balance sheet total over £2bn in their previous financial year to publish their tax strategies loom, Pinsent Masons partner Catherine Robins outlines the key issues to consider

Tax / Cyprus: tax incentives for new residents

Cyprus' new residence criteria, income tax exemptions and non-dom regime has made the island a desirable destination for individuals looking to relocate. Alexandra Spyrou, chief financial officer at Elias Neocleous & Co, outlines the income tax rules and exemptions for non-doms

Tax / Trump renews pledge on ‘largest tax cut in US history’

US President Donald Trump has underlined his intention to deliver ‘the largest tax cut in our country’s history’ with major reforms planned to what he called an ‘outdated, complex, and extremely burdensome tax code’, including a substantial cut in corporation tax